Friday, February 14, 2025
HomeCryptocurrencySolana (SOL) Strengthening: Are New Highs On The Way?

Solana (SOL) Strengthening: Are New Highs On The Way?

Solana (SOL), which collapsed after the crisis in Pompeii, excited its investors with signs of recovery.

A significant price movement has been experienced recently. Solana (SOL) started falling after reaching its all-time high (ATH) at $264. The popular altcoin, which is currently trading at around $233, managed to hold the support level at $221, creating optimism. BitcoinCould Solana be seeing new highs as it moves above $100,000?

Solana

What is the latest situation in Onchain data?

Onchain data for Solana is currently very positive. In particular, the financing rate data point to the upside. A positive financial ratio indicates that investors are willing to take their long positions. This also appears as a factor supporting growth in our mix. Additionally, high network activity keeps SOL’s value strong. With Bitcoin’s dominance waning, we may see a more positive scenario for SOL.

Solana

Solana (SOL) Price Consideration Levels

Solana is trading at $233 as of writing. A break above the $245 resistance level would indicate a bullish momentum return for SOL and could push the price towards $270. However, if SOL fails to cross the $245 level and falls below $221, we could see a pullback towards $200. A bullish rally for the popular altcoin could begin with a break above $300. This level, which is psychologically fragile, can act as resistance in the short/medium term.

This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments